Twyla Rist & Associates

When To Start Working With An Agent: Buyers Edition

April 30, 2018

So you’re ready to escape cramped apartment life or to upsize from your current home — but you’re not sure if you’re quite ready to officially enter the market. If any of the following apply to you, you may be ready to take the leap!

YOU’VE SAVED 5-20% OF THE DOWN PAYMENT.

Most of the time, deciding to buy a home requires some work upfront — not the least of which involves saving up for a down payment. But if you’ve socked away at least 5% of the down payment, you could be ready to begin your search.

YOU’RE TIRED OF RENTING.

Loud neighbors got you up at night? Hate sharing laundry machines? If you’re tired of renting, it may be time to explore buying a home. According to Trulia, it’s actually cheaper to buy than to rent in the biggest 100 metros, and there are many other advantages to owning, too.

YOU DON’T PLAN ON MOVING IN THE NEXT 5-10 YEARS.

If you can see yourself living in the same city for at least the next five years, you can save money in the long run by buying now instead of continuing to rent.

YOUR CREDIT SCORE IS GREAT.

According to Forbes, 90% of the top U.S. lenders use your credit score as metric to decide whether or not to issue a mortgage. The higher your score, the better your mortgage rate can be — which is a huge factor in affording your home. Even if you have not-so-great credit, there are still ways to improve your score.

YOU DON’T HAVE ANY BIG LIFESTYLE CHANGES COMING UP.

If you’re not planning any big lifestyle changes in the near future — like having a new baby, starting a new job, going back to school or starting a business — then now could be a great time to start looking for a new home.

Ready to buy? Get pre-approved with a loan withHomeServices Lending. That way, you’re armed with a realistic budget going into your search.